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Major resistance- 82.50 (55-W EMA)
CADJPY is trading higher for 2nd consecutive week and hits high of 82.498. The pair jumped more than 5% in the past one and a half months. The jump was mainly due to weak yen as demand for safe-haven decreased.
The Canadian dollar is trading slightly higher against USD and any further trend reversal only above 1.33850.
On the flip side, near term support is around 81.54 (23.6% fib) and any break below will drag the pair to the next level till 81.12/80.68.
It is good to buy on dips around 82 with SL around 81.50 for the TP of 83.45.
